Organizations must be prepared to face external factors that can cause disruption and uncertainty, such as economic downturns or changes in market conditions. To ensure that their long-term business transformation efforts remain cost-effective and efficient, they must develop strategies that increase their resilience. This requires the development of certain operational capabilities among partners, as well as the use of digital technologies that allow for real-time reconfiguration and rapid response. Additionally, organizations should invest in a good communication infrastructure and marketing agencies to help solve problems related to demand risks. Lean supply chain management (SCM) practices have become popular due to globalization and the competitive business environment.
To merge knowledge about supply chain disruptions, organizations should consider approaches such as the analysis of forward and backward propagation with the use of Bayesian networks, the inclusion of the time and cost of dynamic recovery by applying multiobjective stochastic optimization and agent-based models, and the use of Internet of Things (IoT) to track and authenticate products and shipments. These efforts should help manage an immediate emergency and create stronger, more resilient companies in the long run. Organizations must be proactive in preparing for external factors that can cause disruption and uncertainty. This includes building operational capabilities among partners, using digital technologies for real-time reconfiguration, investing in communication infrastructure and marketing agencies, and utilizing lean SCM practices. By merging knowledge about supply chain disruptions with approaches such as Bayesian networks, multiobjective stochastic optimization, agent-based models, and IoT tracking, organizations can create stronger companies that are more resilient to global market fluctuations. In conclusion, organizations must be prepared for external factors that can cause disruption and uncertainty.
By merging knowledge about supply chain disruptions with approaches such as Bayesian networks, multiobjective stochastic optimization, agent-based models, and IoT tracking, organizations can create stronger companies that are more resilient to global market fluctuations.
